Al Jouf Cement Co. reported a net loss after Zakat and tax of SAR 73.3 million for 2020 from a net profit of SAR 5.3 million in 2019.
The company attributed the losses to booking provisions on old investments of SAR 99 million represented in the investment in Eastern Industrial Co. from 2007 and credit provisions represented in the value of selling the share of Al-Jouf Investments Co., owned by Al-Jouf Cement in Across Bridges Co. in 2012.
| Item | 2019 | 2020 | Change |
|---|---|---|---|
| Revenues | 169.75 | 252.00 | 48.5 % |
| Gross Income | 31.71 | 73.28 | 131.1 % |
| Operating Income | 8.36 | 48.03 | 474.6 % |
| Net Income | 5.26 | (98.54) | (1974.8 %) |
| Average Shares | 108.70 | 108.70 | - |
| EPS (Riyals) | 0.05 | (0.91) | (1974.8 %) |
The company turned to a net loss after Zakat and tax of SAR 104 million in Q4 2020, compared to a net profit of SAR 2.52 million in Q4 2019.
| Item | Q4 2019 | Q4 2020 | Change |
|---|---|---|---|
| Revenues | 39.73 | 67.77 | 70.6 % |
| Gross Income | 10.21 | 15.48 | 51.7 % |
| Operating Income | 3.55 | 8.61 | 142.3 % |
| Net Income | 2.54 | (129.22) | (5183.5 %) |
| Average Shares | 108.70 | 108.70 | - |
| EPS (Riyals) | 0.02 | (1.19) | (5183.5 %) |
| Item | Q3 2020 | Q4 2020 | Change |
|---|---|---|---|
| Revenues | 68.94 | 67.77 | (1.7 %) |
| Gross Income | 18.41 | 15.48 | (15.9 %) |
| Operating Income | 12.69 | 8.61 | (32.1 %) |
| Net Income | 8.22 | (129.22) | (1671.7 %) |
| Average Shares | 108.70 | 108.70 | - |
| EPS (Riyals) | 0.08 | (1.19) | (1671.7 %) |
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